Pluxee to Acquire Spanish Employee Benefits Firm Cobee

Pluxee, a global player in Employee Benefits and Engagement, announced the acquisition of Cobee, a fast-growing Spanish digital-native firm in the same sector. This deal reflects Pluxee's strategy to expand its footprint in the underpenetrated and growing Spanish market.

Founded in 2019, Cobee has rapidly expanded its reach to more than 1,500 clients and 100,000 employee consumers across Spain, Portugal, and Mexico. Cobee offers a diverse multi-benefit portfolio, including meal vouchers, health insurance, and employee discounts, enabled by cutting-edge technology.

The acquisition is expected to be initially neutral to Pluxee's EBITDA and cash flow, becoming accretive in its second year. The deal, funded through existing resources, will enhance Pluxee’s technological capabilities globally.

Aurélien Sonet, CEO of Pluxee, highlighted Cobee's robust performance and technological expertise as key factors for the acquisition, anticipating accelerated growth and enhanced service offerings for clients and consumers.